You are required to pass necessary journal entries in the books of Kewal: (i) Cheque amounting ` 9,000 from Hari Krishan in full settlement of his account for ` 10,000. (ii) (iii) Withdrawn for personal use: Goods (Sales Price ` 8,000, Cost ` 6,000), cash `1,000 Goods costing ` 3,000 (Sale price `4,000) distributed as free samples. (iv) Received commission ` 10,000, half of which does not relate of current year and is received in advance. (v) Purchased second hand machinery from Jawahar for `30,000 against a cheque. Goods of ` 12,000 (Cost ` 9,000) used in repairs of this machinery which is necessary to make it ready for working.
April 21, 2024
Provide solutions
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